Avis Budget Group Completes Funding, UK Clearance for Zipcar Acquisition

Avis Budget Group Inc. and Zipcar Inc. completed $525 million in debt financing to fund Avis Budget’s pending acquisition of Zipcar, according to a March 8 press release.

Avis Budget also announced the transaction received regulatory clearance in the UK after the UK Office of Fair Trading determined that Avis Budget's planned acquisition of Zipcar does not qualify for investigation under UK antitrust law. The company has already received U.S. antitrust approval, as well as by Zipcar stockholders.

The companies currently anticipate the acquisition to be completed during the week of March 11, subject to customary closing conditions.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

6 Takeaways from the 2018 International Car Rental Show

Technological solutions are finally moving from reality to theory, peer-to-peer platforms are being redefined, China has the biggest room for growth, while Sixt’s U.S. aspirations have only just begun.

The Irony of Customer Service in the Digital Age

Sure, any company would jump at the chance to use technology to reduce labor costs. But it also comes with some big, red, flashing warning lights.

Market Forces Driving Car Rental in 2018

An analysis of the conference calls of Avis Budget Group and Hertz Global Holdings reveal trends and initiatives involving fleet right sizing, pricing, ancillary revenue opportunities, and renting to ride-hailing drivers.

Job Finder: Access Top Talent. Fill Key Positions.

>